US Online Retail Forecast, 2023 To 2028

July 20th, 2023

Jitender Miglani Principal Forecast Analyst

With contributors:

Fiona Swerdlow , Sucharita Kodali , Delilah Gonzalez , Taylor Hansen

Summary

In 2022, total US retail sales reached a record high of $4.6 trillion, driven by decades-high inflation. By 2028, Forrester expects US total retail sales to reach $5.8 trillion and US online retail sales to reach $1.6 trillion. We expect US online retail penetration will grow to 28% by 2028. Over the next five years, we forecast a double-digit compound annual growth rate (CAGR) in online retail sales for 11 product categories. This report provides a forecast for US total retail sales, online retail sales, and online retail penetration for 30 product categories, with historical data going back to 1998.

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